Implantable medical devices and prosthesis for rapid regeneration and replacement of tissues, and methods of making and using the devices, are described. The medical devices include a complex three-dimensional braided scaffold with a polymer composition and structure tailored to desired degradation profiles and mechanical properties. The composite three-dimensional braided scaffolds are braided from yarn bundles of biodegradable and bioresorbable polymeric fibers and/or filaments. Monofilament fibers and/or multifilament fibers can be twisted/plied in different combinations to form multifilament yarns, composite multifilament yarns, or composite yarns. The medical devices are useful as both structural prosthetics taking on the function of the tissue as it regenerates and as in vivo scaffolds for cell attachment and ingrowth.